Friday, February 17, 2012

Weekly Wrap

Another positive week for the S&P 500 Index. Except for a marginal loss last week, this is the sixth time out of the last seven weeks that the index has been in the black. It ended this week at 1361, a nine-month high. It's also up just over 8% for the year so far, and like I previously forecast, on the way to that 1400 level that we haven't seen since early 2008. So, I'm still holding my long positions.

As I've been saying for months now - the stock market is like a beautiful woman, fickle and unforgiving at times. But, if you realize her potential, believe in her, show her some appreciation, and invest some money in her, she'll do her best to make you happy that you went long on her.

But, don't just take my word for it, see for yourself. Each week more and more skeptical American investors are also beginning to see the magic that I see, and are burning to hook up with her.

Gains in the final session of the week were only modest, but they helped the S&P 500 secure a weekly gain of more than 2%. That stands as the stock market's fifth straight weekly gain, or tenth in 11 tries. That hot streak has the S&P 500 up more than 11% year to date and sitting above 1400 for the first time since mid-2008.

Along the way the stock market has managed to overcome precarious conditions in Europe, ongoing concerns about global growth prospects, and debate over the plausibility of additional monetary stimulus. The S&P 500 Index closed the week at 1404.17.

About Me

Individual investor who's able to profitably divine truth from lies, foretell fact from fiction, channel investor psychology, mystically predict market movements, and ascertain the answers having never before seen the questions.